I with IlBob on this - looks gimmicky. When I want a belt that will do more than hold up pants, I reach for a rigger's belt. It has enough rated strength to serve in climbing situations, either as part of an improvised climbing harness or as a sling in rigging a belay or rappel point. It would also make more sense to use some climbing grade webbing to fashion a belt - it could serve in the same way.

Paracord and other bits of string for light duty can be easily stashed in many places.